Discontinue the penny. It costs us 2.4 cents/penny we create, which loses us $120 million a year, and no one uses them.

According to the United States mint’s annual report, almost 5 billion pennies were manufactured last year at 2.4 cents/penny. Yes you heard correct it costs 2.4 cents to create a coin worth one cent. This totaled up to $120 million tax dollars spent on 50 million dollars of a coin that isn’t even worth being picked up off the sidewalk. With the ever present shadow of the national debt looming over us, is it wise to spend $120 million dollars a year on a coin that cannot even buy a stick of gum? I don’t think so either.